Bajaj Allianz General Insurance posts PAT at Rs747 crore
Bajaj Allianz General Insurance has posted its profit after tax at Rs 747 crore for the first half of 2022-23, against Rs 788 crore in H1 of 2021-22.Excluding tender-driven crop…
GST officers detect Rs. 824 crore ‘tax evasion’ by insurance Companies
GST officers have detected Rs 824 crore tax evasion by 15 insurance companies, intermediaries and banks through issuance of fake invoices, officials said. Acting on specific inputs, GST Intelligence Officers…
Kudankulam cover on hold without reinsurer
A 43,200-crore insurance cover for the Russian-made Kudankulam nuclear power plant is in limbo as New India Assurance, the lowest bidder for the power producer's units 3 and 4, has…
Adhering to safety norms more important than car security features: Experts
Former Tata Sons chairman Cyrus Mistry’s death in a car accident has brought fresh focus to enhanced security in cars. Experts believe that following road safety measures and rules is…
SC directs Bajaj Allianz to pay Rs.200 crore crop loss compensation
The Supreme Court’s decision dismissing an appeal of Bajaj Allianz General Insurance Company against the Bombay High Court order asking it to compensate over 3.5 lakh farmers in Osmanabad for…
Cyber Insurance Policy for digital transactions
SafeHouse Tech, a cyber security solutions company, launched a cyber insurance policy that offers a cover of Rs. 25,000 on digital transactions carried out on mobile phones. “We have tied…
Rs. 500-cr insurance pool helps counter G7 cap on Russian oil
India has been able to push back against the G7 decision of a cap on Russian oil lately because of the success of the Rs 500 crore insurance pool to…
PSU insurers may need up to Rs. 8000crore for higher wages
Public sector non-life insurance companies will need to raise around Rs 8,000 crore to meet statutory capital requirements after paying out the 12% wage increase notified by the government. Apart…
Govt may infuse Rs. 5000 crore in PSU General Insurers
The central government will reportedly infuse Rs 5,000 crore as equity support into PSU general insurers. "A fresh assessment may be done by the end of the December quarter and,…
Hyundai Motor India enters General Insurance market
Hyundai Motor India in FY22 ventured into the "Insurance" segment through Hyundai India Insurance Broking Private Limited. The new company has obtained registration with IRDAI as a Direct Broker --…